AI Agent · Andreessen Horowitz · Fortune Technology
Its founder confirms he wants to give CFOs back their weekends
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Rillet, a two-year-old startup building what it calls the first truly AI-native accounting platform, has raised a $100 million Series C at a $1 billion valuation, the company told Fortune exclusively—joining the ranks of AI-era unicorns racing to unseat decades-old enterprise software giants.
Key facts
- Rillet, a two-year-old startup building what it calls the first truly AI-native accounting platform, has raised a $100 million Series C at a $1 billion valuation, the company told Fortune
- Mercor, in particular, has become a marquee reference customer: According to the company, its finance team is using Rillet’s AI agents to manage a business scaling past $2 billion in annual recurring
- For Rillet co-founder and CEO Nicolas Kopp, the milestone is as much personal as financial
- The company says it doubled its new ARR again in the three months leading into this latest raise, and now serves more than 600 customers
Summary
The round, led by ICONIQ with participation from returning backers Sequoia Capital, Andreessen Horowitz and Oak HC/FT, plus new investors including Bain Capital Ventures, Sequoia Global Equities, Battery Ventures, FirstMark, Scale Venture Partners and Creandum, marks Rillet’s third fundraise in the past year and pushes its total funding past $200 million. For Rillet co-founder and CEO Nicolas Kopp, the milestone is as much personal as financial. “CFOs struggle day to day. That’s not correct,” he said, stressing that “domain expertise” is core the company’s mission: “We’re positioning AI as a helper to that individual and what they can achieve.” Rillet’s rise has been fast even by startup standards.